SAN FRANCISCO, March 5, 2020 /PRNewswire/ -- The global dermatology devices market size is expected to reach a value of USD 35.3 billion by 2027, according to a new report by Grand View Research, Inc., registering a CAGR of 15.1% over the forecast period. The product demand is expected to increase owing to rise in skin conditions and growing influence of social media.
Key suggestions from the report:
Treatment devices dominated the market in 2019 owing to the rise in awareness regarding various aesthetic procedures and products, which, in turn, leads to a rise in adoption of both surgical and non-surgical cosmetic procedures
Laser devices accounted for the largest share in 2019 due to its wide application in a variety of disease and cosmetic treatments
Skin cancer diagnosis held a substantial market share in 2019 owing to the high prevalence of this disease condition, particularly melanoma
Skin rejuvenation is expected to witness lucrative growth over the forecast period owing to the increasing popularity of this treatment procedure
Hospitals accounted for the largest share in 2019 owing to the rise in adoption of advanced infrastructure and enhanced services in these settings
North America dominated the global dermatology devices market in 2019 due to increasing awareness of aesthetic procedures and rising beauty consciousness among the population
Key market players include Alma Lasers GmbH; Cynosure, Inc.; Solta Medical, Inc.; Cutera, Inc.; Syneron Medical Ltd.; Canfield Scientific, Inc.; 3Gen; Aesthetic Group; Ambicare Health; and Image Derm, Inc.
Increasing incidences of skin disorders such as psoriasis, acne, eczema, and skin lesions across the globe is attributed to irregular lifestyle and food habits. Melanoma is the most deadly form of skin cancer which arises due to overexposure to the sun. Dermatology diagnostic equipment help in the early diagnosis of melanoma. High prevalence of this skin condition is anticipated to contribute to the market growth. For instance, in 2019, nearly 7,800 Canadians were estimated to be diagnosed with melanoma and nearly 1,300 Canadians were estimated to die due to melanoma.
Moreover, obesity has rapidly become a major health concern. Hence, fat removal procedures are increasingly being adopted. Liposuction is considered as an effective treatment for obesity, which, in turn, drives the product demand. Rising disposable income and increasing financial independence among women are also driving market growth. In addition, technological advancements in laser treatments increases its application scope, subsequently driving the product demand over the forecast period.
North America is projected to be the largest market globally through the forecast period. This is attributed to growing incidences of conditions such as eczema, which can be treated dermatologically. Growing popularity of cosmetic procedures such as cellulite and fat removal and scar removal is also projected to drive the growth of the regional market. On the other hand, Asia Pacific is projected to witness the fastest growth rate over the forecast period. Factors such as high medical tourism and increasing R&D activities are driving the Asia Pacific market.
Grand View Research has segmented the global dermatology devices market on the basis of product, application, end use, and region:
Dermatology Devices Product Outlook (Revenue, USD Million, 2016 - 2027)
Other Imaging Devices
Dermatology Devices Application Outlook (Revenue, USD Million, 2016 - 2027)
Skin Cancer Diagnosis
Acne, Psoriasis, and Tattoo Removal
Wrinkle Removal and Skin Resurfacing
Body Contouring and Fat Removal
Vascular and Pigmented Lesion Removal
Dermatology Devices End-Use Outlook (Revenue, USD Million, 2016 - 2027)
Dermatology Devices Regional Outlook (Revenue, USD Million, 2016 - 2027)
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.